Track Cash Accounts in Sharesight
One of the most requested features we’ve had is the ability to track cash investments as part of an investor’s portfolio. In an investment context, cash means different things to different people. So we took time to gather feedback from our clients, and our developers have put together a slick solution that we’re going to build on over time.
Back In 2014 we made it possible for investors to integrate Sharesight with their bank or brokerage cash accounts using Xero bank feeds to make it easy to track cash balances and display reconciled buys, sells, and dividends automatically. We also built an integration with Macquarie’s CMA product for Sharesight Pro clients.
What is a cash account?
An investor’s “cash account” is an account held by their broker, where investors deposit money when they intend to trade. The broker will use funds in the cash account when an investor buys shares, mutual funds, or other investments on offer. This cash account is also the account a broker will deposit the proceeds from any sales made or dividends received.
Why we built Sharesight Cash Accounts
Not every investor has a Xero-supported cash account with their broker (or wishes to pay for a full-featured Xero subscription) so we’ve developed a simple solution for investors to track cash accounts within their Sharesight portfolio(s). By tracking their shares and other investments alongside their cash accounts, investors get a complete financial picture of their portfolio performance.
How does the Sharesight Cash Account work?
The Sharesight Cash Account is currently a beta feature available to Sharesight clients on Investor and Expert plans. To add a Cash Account to your Sharesight portfolio, click on the ‘Add Holding’ dropdown menu on the Portfolio Overview page and select ‘Add Cash Account’. From there you can specify the name and currency of the Cash Account which will be tied to the portfolio (including its tax residency).
After you have added transactions to the account, the balance of the Cash Account will appear at a glance on your Portfolio Overview page.
The value of your Cash Account is included when calculating your portfolio’s value, but does not impact the percentage return figure.
While this feature is in beta you will need to manually input transactions for your Cash Account (buys, sells, dividends, deposits, and withdrawals) – they will not be automatically synced from your trade data. We recommend leveraging Sharesight’s Xero integration if you wish to automatically sync a cash account.
More Cash Account features are coming
We’re excited to bring investors this feature and see it as a valuable addition to Sharesight. While we won’t comment on the the specifics of our upcoming development schedule, rest assured that further refinements to Sharesight’s Cash Account feature are planned – so stay tuned for the details.
Everything you need to know about Sharesight Cash Accounts
- Creating a Cash Account in Sharesight
- Changing the name of a Cash Account
- Deleting a Cash Account
- Adding transactions to a Cash Account in Sharesight
- Editing a Cash Account transaction
- Deleting a Cash Account transaction
- Searching within a Cash Account
- Exporting a Cash Account